CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Unum Group (NYSE:UNM) announced today that its board of directors has authorized an increase of 13 percent in the quarterly dividend paid on its common stock. The new rate of 26 cents per common share, or $1.04 per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2018.
“We are pleased to again increase our dividend payout. This is representative of our consistent performance and financial strength as well as our commitment to returning value to shareholders,” said Richard P. McKenney, president and CEO of Unum.
The new quarterly dividend represents a 247 percent increase from the 7.5 cents per share the company was paying in 2008 and marks the tenth consecutive year in which Unum has raised its dividend. Unum has also repurchased approximately $3.4 billion of its stock, reducing its outstanding share count by almost 36 percent, since the fourth quarter of 2008.